U.S. freight rail economics and policy : are we on the right track? / edited by Jeffrey T. Macher and John W. Mayo.

First edition.

New York, NY : Routledge, 2019.

1 online resource

Access is available to the Yale community.

The passage of the Staggers Rail Act in 1980 led brought a renaissance to the freight rail industry. In the decade following, economists documented the effects of the Act on a variety of important economic metrics including prices, costs, and productivity. Over the preceding years, and with the return of the industry to more stable footing, attention to the industry by economists faded. The lack of attention, however, has not been due to a dearth of ongoing economic and policy issues that continue to confront the industry. In this volume, we begin to rectify this inattention. Rather than retread older analyses or provide yet another look at the consequences of Staggers, we assemble a collection of ten chapters in four sections that collectively provide fresh and up-to-date analyses of the economic issues and policy challenges the industry faces: the first section sets the context through foundational discussion of freight rail; the second section highlights the role of freight rail in an increasingly interrelated economy; the third section examines industry structure and scope in freight rail; and the fourth section assesses current regulatory challenges that confront freight rail. This book will be of great value to researchers, academics, policymakers, and students interested in the fields of freight rail economics and policy, transportation, business history, and regulatory economics.

Taylor & Francis. EBA 2024-2025.

Print version: U.S. freight rail economics and policy. First edition. New York, NY : Routledge, 2019

Books / Online

English

August 07, 2024

Includes bibliographical references and index.

Preface Section I. Foundations The Evolution of the Post-Staggers Rail Industry and Rail Policy by Mark Burton and Paul Hitchcock Economic Foundations for 21st Century Freight Rail Rate Regulation by John W. Mayo and Robert D. Willig Section II. Railroads in an Increasingly Interrelated Economy International Trade and the Demand for U.S. Rail Services by Ferdinando Monte Accounting for External Costs in Pricing Freight Transportation: Eight Policy Options by David Austin Price Effects in Truck-Competitive Railroad Markets by Gerard McCullough and Ishay Hadah Section III. The Structure of the Rail Industry Restructuring Rail Systems: Implications for Network Quality and Welfare by David Besanko An Empirical Analysis of Economies of Scope in the U.S. Railroad Industry by Azrina Abdullah Al-Hadi and James Peoples Section IV. Railroads and Post-Staggers Regulation The Law and Economics of Revenue Adequacy by Jeffrey T. Macher, John W. Mayo and Lee Pinkowitz Open Access and Revenue Adequacy by William Huneke Regulation in a 'Deregulated' Industry: Railroads in the Post-Staggers Era by John W. Mayo and David E.M. Sappington List of Contributors Index